Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
• Fiem Industries: Buy above ₹1,420, stop ₹1,395, target ₹1,550-1,580
This counter from the auto industry has now given a strong breakout above moving average bands, indicating that the revival emerging despite the market weakness spells some buying emerging at lower levels. Tuesday’s trading action highlights that the rise in prices is supported by volume and could now result in some revival. The RSI showing some firmness indicates that the trends are in a revival mode and could set some pace to the upside. Buy.
• Nath Bio-Genes: Buy at ₹161, stop ₹156 target ₹171
This counter after the recent capitulation indicating some steady buying interest developing at lower levels as the supports offered by the lower bounds of RSI clearly spells out that the trends are showing some revival again. With the possibility of some upward bounce emerging one can consider going long as there is room to the upside.
• Star Cement: Buy above ₹215, stop ₹209, target ₹225-231
Star Cement, an Indian cement company, has seen some reasonable uptick after Ultratech has taken a controlling stake and has seen some steady upside. The last few days highlight that the prices have been holding their nerve as the trends are hinting at some bullish bias. With the ADX DMI (average directional movement index) showing a pullback one can consider that the trends are showing a potential to move higher.
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Stocks recommended by MarketSmith India
• Chambal Fertilisers and Chemicals Ltd: Current market price ₹564.20 | Buy range ₹550–565 | Profit goal ₹670 | Stop loss ₹512 | Timeframe 3–4 months
• Sarda Energy & Minerals Ltd: Current market price ₹475.35 | Buy range ₹466–485 | Profit goal ₹590 | Stop loss ₹438 | Timeframe 3–4 months
Three stocks to buy: Recommended by Ankush Bajaj
MEDANTA: Buy at: ₹1,212 | Target: ₹1,288-1,310 | Stop loss: ₹1,168
The Relative Strength Index (RSI) is at 63.17, indicating that while the stock is nearing overbought levels it still has upside potential. Meanwhile, the Moving Average Convergence Divergence (MACD) at 33.63 shows the MACD line trading above the signal line, further confirming bullish momentum.
FORTIS: Buy at: ₹608 | Target: ₹650-660 | Stop loss: ₹588
The stock is currently trading in the oversold territory and has formed a double bottom around the ₹590 level, indicating a potential reversal. A short-term uptick is expected, with possible targets in the ₹650-660 range, provided the stock sustains momentum above key support levels.
KEI: Buy at: ₹3,797 | Target: ₹3,925-3,950 | Stop loss: ₹3,697
The MACD line is above the signal line, indicating a bullish trend. Additionally, on the hourly chart, if the stock sustains above the ₹3,933 level, it could trigger an uptrend with a head and shoulder breakout, signaling further upside potential.
About the analysts: MarketSmith India is a stock research platform. Raja Venkatraman is co-founder, NeoTrader. Ankush Bajaj is a Sebi-registered research analyst.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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